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E.g., the evidence justifies the assumption that 4FCR had no effect on the wholesale price of silicon-based widgets in the U.S. from 1Q 1990 to 4Q 2000 (i.e., the data failed to reject the null hypothesis to the relevant degree of confidence)

Seldom-Discussed Points about Models and Statistical Tests

The values of the estimated parameters and the validity of the statistical tests are contingent on the truth of the underlying model (I.e., Garbage In/Garbage Out)

Example: concentration/price and concentration/profit correlations – powerfully suggested by oligopoly models once regarded as canonical – demonstrated in a host of studies now viewed as discredited